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CEOVU (00798) to form property projects joint venture
China Electronics Optics Valley Union (CEOVU) (00798) said it entered into a joint venture agreement with Excellence Real Estate Group Limited for the formation of a joint venture with
 a registered capital of Rmb100 million,of which 31% will be owned by CEOVU.
  The principal business of the JV will be the development of property projects in Ningbo,
the People's Republic of China.
  Excellence Real Estate is a company established under the laws of the PRC and is 
principally engaged in the development and operation of large commercial and residential 
integrated real estates such as urban renewal, real estate development, operation and
management of business assets and financial investment. It is a substantial shareholder of
China Electronics Technology Development Co., Ltd, a non-wholly owned subsidiary of CEOVU.

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